Ascot Mining PLC (06009952): administration
- Status
- Administration ended
- Administration began
- 2013-11-06
- Administrators
- Stephen Robert Leslie Cork, Joanne Elizabeth Milner
- Administrators' firm
- Cork Gully
- Incorporated
- 2006-11-27
- Location
- London
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated in 2006 and it is understood has been involved in the development and investment into mining operations in Costa Rica In recent years a number of attempts have been made by Its management to obtain financing in order to take the company’s affairs forward but it in the last 24 months become involved in ongoing litigation with one of its financiers with regard to the repayment / servicing of loans made to tt This culminated in the presentation of a petition to the High Court for the Compulsory Winding up of the Company and action being taken against the Company's mining investments in Costa Rica under security laws prevalent in Costa Rica
Cork Gully LLP was first consulted in the autumn of 2013 with regard to the Group’s financial position In order to
avotd a Winding Up Order the Company sought the making of an Administration Order to give the company : protecton while the Management attempted to finalise refinancing negotiations A number of hearings of the
Administrators' statement of proposals (2014-01-09) · Companies House register